Question: Last Thursday, Michael walked to a school supply store and decided to buy a notebook for $4.16. Michael handed the salesperson $7.17 for his purchase. How much change did Michael receive?
To find out how much change Michael received, we can subtract the price of the notebook from the amount of money he paid. The amount Michael paid - the price of the notebook = the amount of change Michael received. ${7}$ ${1}$ ${7}$ ${4}$ ${1}$ ${6}$ ${-\vphantom{0}}$ ${1}$ ${0}$ ${3}$ Michael received $3.01 in change.